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Mar 1, 2014
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the tax. they have to file a tax return in order for the irs to get their money. a lot of 18-year-olds aren't getting jobs, the system is in trouble because of this. >> if the uninsured don't want this, if they don't boy into it, who will pay for it? sit us? >> exactly. we will end up footing the bill. the problem. the catastrophe was it is a bill that is an abiz malfailure. i'm trying to look at the bright spots of this. where is the good stuff? but again and again i encounter, quite honestly lies. look, a couple i assembled, annual premium savings of $2,500 per family. >> that is not going to happen. government accountability office says it will increase the deficit $6.2 trillion. if you like your doctor, you can keep your doctor. let's not go there. insure the uninsured. no. the ceo says the 75 million will still be uninsured. finally, brenda. we talked about approval. forget all that. the american public doesn't want it. 92% want to change this or appeal it. we have a law that has absolutely no benefits the public doesn't want. we are living with it. i can't u
the tax. they have to file a tax return in order for the irs to get their money. a lot of 18-year-olds aren't getting jobs, the system is in trouble because of this. >> if the uninsured don't want this, if they don't boy into it, who will pay for it? sit us? >> exactly. we will end up footing the bill. the problem. the catastrophe was it is a bill that is an abiz malfailure. i'm trying to look at the bright spots of this. where is the good stuff? but again and again i encounter,...
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Feb 26, 2014
02/14
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ALJAZAM
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people there pay no income taxes, no corporate taxes, no capitol gains or payroll taxes or taxes of foreign clients. all together the tax justice network estimates between 21 trillion-dollar and 32 trillion-dollar of private financial wealth is located and untaxed in secret accounts around the world. >> that's just the money that sits there. the group says as much as $1.6 trillion now crosses international borders each year. >> you cannot believe those figures. >>> the army has banned more soldiers from serving in positions of trust. they have disqualified 600 soldiers from serving as issues ranging from sexual assault to child abuse to drunk driving. the pentagon spent eight months combing through the records of 20,000 soldiers in those positions. >>> gay rights activists scored another victory in court. a judge in texas struck down the ban on same-sex marriage which follows federal judges in utah, oklahoma and virginia. we have more on today's ruling. >> texas' ban on same-sex marriage conflicts with equal petition. i wan to share some reaction from folks on both sides of this position. t
people there pay no income taxes, no corporate taxes, no capitol gains or payroll taxes or taxes of foreign clients. all together the tax justice network estimates between 21 trillion-dollar and 32 trillion-dollar of private financial wealth is located and untaxed in secret accounts around the world. >> that's just the money that sits there. the group says as much as $1.6 trillion now crosses international borders each year. >> you cannot believe those figures. >>> the army...
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Mar 2, 2014
03/14
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FOXNEWSW
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tax code is 70,000 pages long. in 1986, it was 26 pages long. so if that doesn't signal that something is wrong, i don't think we have any evidence. on top of that, the irs, according to dave camp, the irs erroneously sent $132 billion to taxpayer money to false, fraudulent claimants over the last ten years. and on top of that, you know, a tax code should encourage innovation. and investment. and discipline. >> danelle, that last point is where i pick up. i think the focus here on this reform is simplification, as mary suggests. but it's also growth. we need a tax code that doesn't retard the economy but enhanced it. and more incentive to do so in places that really increase productivity. i think this goes a big step in that direction. not perfect, but a big step in that direction? >> for sure. i've taken a look at some provisions and let me say it's not going to put tax accountants out of business. >> no, that's a dream. >> it's simple. but it's not simple. another one of this thing does is reduce the corporate rate to 25%. >> which is 35%. clo
tax code is 70,000 pages long. in 1986, it was 26 pages long. so if that doesn't signal that something is wrong, i don't think we have any evidence. on top of that, the irs, according to dave camp, the irs erroneously sent $132 billion to taxpayer money to false, fraudulent claimants over the last ten years. and on top of that, you know, a tax code should encourage innovation. and investment. and discipline. >> danelle, that last point is where i pick up. i think the focus here on this...
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she is talking about the money getting it from revamping corporate tax reform. but that, inherent in that argument is that you can get revenue cutting taxes. so i think what he is saying here, i'm already prespending that. but i wish he would sort of acknowledge that budg-wide, just cut tacks. >> not only that, he should explain $300 billion, we are talking billion. i thought i saw million for a second. become, even that's not enough. do you realize that? you can spend $800 billion, and that's not going to jump start the economy in a meangful way when the government starts to direct the projects. the best way is give businesses assurance they won't be tax deduct and they won't get crushed on regulation. $800 billion stimulus package was needed. what wasn't needed is the vernment directing the winners and the losers. >> it's a good point. adam, it misses another point, what are you doing with the $120 billion you are getting from federal, state soues to address our roads and bridges? because they're still tumbling down. they're inwful shape. but before you ask fo
she is talking about the money getting it from revamping corporate tax reform. but that, inherent in that argument is that you can get revenue cutting taxes. so i think what he is saying here, i'm already prespending that. but i wish he would sort of acknowledge that budg-wide, just cut tacks. >> not only that, he should explain $300 billion, we are talking billion. i thought i saw million for a second. become, even that's not enough. do you realize that? you can spend $800 billion, and...
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Feb 28, 2014
02/14
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MSNBCW
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to a tax cut for the rich partially financed by the stealth tax increase on the middle class and i don't think any democrat would go for that conceptually. but he got the ball halfway down the field. i think it would be fascinating both substantively and political for democrats to take him up on the offer and just also see what republicans do in response. the speaker of the house isn't wild about this. mitch mcconnell isn't wild about this. but if democrats called their bluff and said we want to use this republican tax plan as a starting point, that could completely change the nature of the political discussions that we've been having in washington for the last, what, six months now. >> i believe speaker boehner's exact quote about the details of the plan were blah blah blah. so where does that leave us on this politically? is there an opportunity for democrats to pick this up and try to sort of split the republican caucus, work with dave camp and push this through, or with mcconnell and boehner both sort of saying they're not that interested in this, is there not much of an opportunity
to a tax cut for the rich partially financed by the stealth tax increase on the middle class and i don't think any democrat would go for that conceptually. but he got the ball halfway down the field. i think it would be fascinating both substantively and political for democrats to take him up on the offer and just also see what republicans do in response. the speaker of the house isn't wild about this. mitch mcconnell isn't wild about this. but if democrats called their bluff and said we want...
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Mar 2, 2014
03/14
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so we need new economic growth, not new taxes. new taxes will make it harder to grow the economy. second we know because the congressional budget office just told us a week or so ago that we have record levels of debt and growing levels of debt, another $10 trillion added to our debt in the next ten years. and we get back up to a trillion dollars a year in deficit during that time period. and yet the president saying, no, we'll put more taxes on the economy and we're not going to deal with the get and deficit. >> let me bring in congressman van hollen. the president, one of the reasons he says we can afford new spending even though this is paid for is because the deficit is going down. but congressman, that only tells part of the story. according to the nonpartisan congressional budget office, the deficit does grop this year and next, but then if you look in the outyears it starts to go up again and reaches over $1 trillion again by 2022. >> that's right. if i could just say a quick word on the ukraine, chris, in response to the earlier section. i think we're 48 hours to an intern
so we need new economic growth, not new taxes. new taxes will make it harder to grow the economy. second we know because the congressional budget office just told us a week or so ago that we have record levels of debt and growing levels of debt, another $10 trillion added to our debt in the next ten years. and we get back up to a trillion dollars a year in deficit during that time period. and yet the president saying, no, we'll put more taxes on the economy and we're not going to deal with the...
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Mar 2, 2014
03/14
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he has keen insight on tax issues. i think i sit will find the code, reducing those rates in a major way, we know this will grow the economy. we believe it will draw more capital to the united states. >> let me give you another critique. it is presented as revenue neutral. this is the committee for a responsible government. it is bipartisan. it praises hard to that. it relies on one-time revenue sources and timing shifts to pay for permanent rate cuts. it could increase deficits in the second decade. >> i think it will be the opposite. it will generate more revenue. it will add $700 billion in new revenues to help us pay down the debt. i believe, spending cuts can get us to a balanced budget. >> you think by the second decade it will raise revenues because of the dynamics. >> in the first decade. >> you drew a parallel to the 1986 tax reform under president reagan. one of the differences is that under that measure, the earned income tax credit for the poor was vastly expanded. under this proposal it would be cut back.
he has keen insight on tax issues. i think i sit will find the code, reducing those rates in a major way, we know this will grow the economy. we believe it will draw more capital to the united states. >> let me give you another critique. it is presented as revenue neutral. this is the committee for a responsible government. it is bipartisan. it praises hard to that. it relies on one-time revenue sources and timing shifts to pay for permanent rate cuts. it could increase deficits in the...
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Mar 4, 2014
03/14
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it's little known but highly effective tax rebate for the poor, earned income tax credit. yesterday in a 200-plus page report in the failures on poverty, budget chair paul ryan wrote, research finds that the best anti-poverty programs encourage work, programs like the earned income tax credit increase labor force participation. the president likes the earned income tax credit and paul ryan likes the earned income tax credit. so how did mr. ryan respond to the president's overture one day later? quote, this budget isn't a serious document, he said in a statement this morning, it is a campaign brochure. in divided government, we need leadership and collaboration, and in this budget, we have neither. collaboration like working together to further the same policy? apparently not. congressman ryan was not the only republican to chime in. speaker boehner called the president's proposal his most irresponsible budget yet. speaking as the man who stood idly by while his party shut down the federal government and nearly crashed the u.s. economy, not but six months ago speaker boehne
it's little known but highly effective tax rebate for the poor, earned income tax credit. yesterday in a 200-plus page report in the failures on poverty, budget chair paul ryan wrote, research finds that the best anti-poverty programs encourage work, programs like the earned income tax credit increase labor force participation. the president likes the earned income tax credit and paul ryan likes the earned income tax credit. so how did mr. ryan respond to the president's overture one day later?...
SFGTV: San Francisco Government Television
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Feb 27, 2014
02/14
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SFGTV
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to another tax system and low encourage job creation. he will be asked to step out of the traditional you've got to get it done and how do we help you do get under and city maintain and create jobs in the city. i'm here to say thank you jose to really let everybody you know how appreciative i've been 0 o and lucky to have you as a leader in our financial literacy captain. ooip i've been lucky to inherit a movement gavin was there before me and a visionary and i still get his council as he goes across california doing great things in education. gavin i say thank you that f in your new really as lieutenant governor everything we've accomplished we get a national and state audience because of the work you've done. with that our visiony and former mayor now lieutenant governor gavin newsom. >> (clapping.) >> thank you. obviously, we have the same speech writer i have nothing else to say about jose wonderful work and thank you for covering the base is. i ran over to college and wondered what happened to terminate limits that's been 10 damn ye
to another tax system and low encourage job creation. he will be asked to step out of the traditional you've got to get it done and how do we help you do get under and city maintain and create jobs in the city. i'm here to say thank you jose to really let everybody you know how appreciative i've been 0 o and lucky to have you as a leader in our financial literacy captain. ooip i've been lucky to inherit a movement gavin was there before me and a visionary and i still get his council as he goes...
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Feb 27, 2014
02/14
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CSPAN2
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tax evasion. is that correct that yours swiss bankers work with both of these outside intermediaries to help u.s. citizens set up offshore shell entities and to open accounts in your bank in switzerland in the name of those entities and set up in their own names? >> yes in some instances they did. >> and they were called intermediaries, right? i mean that is one of the names they were called. >> i'm not sure. fiduciaries. >> so anonymous with intermediaries, would you agree xp they sound very similar, yes. >> no the bank has acknowledge that it has also worked with other intermediaries. can you tell us who they were? besides these two. can you tell us what other intermediaries or what was the name you used? fiduciaries that the bank worked with to do what i just described, to help u.s. clients set up, this is the egregious conduct you were talking about mr. dougan to set up offshore shell entities and open accounts in your bank in switzerland in the name of those entities instead of their own name
tax evasion. is that correct that yours swiss bankers work with both of these outside intermediaries to help u.s. citizens set up offshore shell entities and to open accounts in your bank in switzerland in the name of those entities and set up in their own names? >> yes in some instances they did. >> and they were called intermediaries, right? i mean that is one of the names they were called. >> i'm not sure. fiduciaries. >> so anonymous with intermediaries, would you...
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Mar 1, 2014
03/14
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BLOOMBERG
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at the end of the day we want tax code.ro-growth this is an important step. >> the bank tax. people said it never happened. they are so powerful. they will never let that happen. , they start with a 30% rate cut. $3 trillionith a stronger economy. they start with -- >> you think it is good for them? >> you look at the whole package. this has much more benefit, especially as banks are laying off thousands of workers because of this disappointing economy. >> will small bank support this? >> i don't know. take a look at the whole package. the economic growth. the impact on customers. we are listening, bring those ideas, let's have the discussion. >> grover norquist says he has would hamstring capital investment and damage economic growth over the long run. why is he wrong? >> i have not her -- i have not heard that point there. he has keen insight on tax issues. i think i sit will find the code, reducing those rates in a major way, we know this will grow the economy. we believe it will draw more capital to the united states. >> let me give you another critique. it is presented a
at the end of the day we want tax code.ro-growth this is an important step. >> the bank tax. people said it never happened. they are so powerful. they will never let that happen. , they start with a 30% rate cut. $3 trillionith a stronger economy. they start with -- >> you think it is good for them? >> you look at the whole package. this has much more benefit, especially as banks are laying off thousands of workers because of this disappointing economy. >> will small...
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and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com [ mthat if you wear a ptial,now you're almost twice as likely to lose your supporting teeth? try poligrip for partials. poligrip helps minimize stress which may damage supporting teeth by stabilizing your partial. care for your partial. help protect your natural teeth. predibut, manufacturings a prettin the united states do. means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the right tools and resources to get the job done. gerri: americans have always opened their hearts and wallets to charities. we're very, very generous. in fact last year we gave more than $300 billion, $316 billion to charities. that's the booed news. the bad news is, if telemarketer was involved, much of that money didn
and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com [ mthat if you wear a ptial,now you're almost twice as likely to lose your supporting teeth? try poligrip for partials. poligrip helps minimize stress which may damage supporting teeth by stabilizing your partial. care for your partial. help protect your natural teeth. predibut, manufacturings a prettin...
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Feb 27, 2014
02/14
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CNBC
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they've been talking about a consumption tax forever to replace the income tax. i mean, that's going back 30 years now. you know, what is the spur? you identify some things in there, the energy industry and so forth, that might make it more palatable to pull this off, but let's not forget the political reality that still exists in this world. >> the political reality is very daunting, no question. but if you get natural gas pushing those prices down, there will be more room for politicians to tax energy. the environmental issue is something that concerns many americans, some others not so much. but if you combine those two forces, the need for growth, need to do something environmental, that is going to create a constituency for that kind of a change. and remember, we've already carved out the income tax for very large numbers of people. we're moving in the direction of a surtax kind of situation already. in fact, dave camp's proposal had two rates, 10% and 25%, with another 10% rate for people above $450,000. so that concept, the idea of moving more toward the t
they've been talking about a consumption tax forever to replace the income tax. i mean, that's going back 30 years now. you know, what is the spur? you identify some things in there, the energy industry and so forth, that might make it more palatable to pull this off, but let's not forget the political reality that still exists in this world. >> the political reality is very daunting, no question. but if you get natural gas pushing those prices down, there will be more room for...
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Feb 27, 2014
02/14
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FBC
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and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free pn. there's on one way for your binesto go. up. find out if your business can qualify at start-upny.com for the proven relief raof the purple pill. and that relief could be in your hand. for many, nexium helps relieve heartburn symptoms from acid reflux disease. find out h you can save at purplepill.com. there is risk of bone fracture and low magnesium vels. side effects may incle headache, abdominal pain, and dirhea if you have persistent diarrhea, contact your doctor right away. other serious stomach conditions may exi. avoid if you tclopidogrel. for many, relief is at hand. ask your doctor abouxium. gerri: hello, everybody, i'm gerri willis. right now on "the willis report", eat this, not that. nutrition labels get the first of ever makeover. will it change the way americans eat? >>> also a big win for drivers. cities put the brakes on red light cameras. >>> fast-food wars, we put the new breakfast menus to the test. we're watching out for you on "the willis report." gerri: nutrition l
and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free pn. there's on one way for your binesto go. up. find out if your business can qualify at start-upny.com for the proven relief raof the purple pill. and that relief could be in your hand. for many, nexium helps relieve heartburn symptoms from acid reflux disease. find out h you can save at purplepill.com. there is risk of bone fracture and low magnesium vels. side effects may incle headache, abdominal pain, and...
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Mar 5, 2014
03/14
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KQED
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i think in the area of earned income tax credit, there might be some overlap. but in general the republican approach will be very different, i think. i think they'll look at the range of programs aimed at helping the poor and say a lot of these programs have been created without any relationship or understanding of how they interact with the others and create large disincentives to work when you stack them all together. lots of studies have shown when you pay someone a benefit and withdraw it when the earnings rise, in a sense you provide add disincentive for people to move up the wage ladder. so you stack all these things together and some people are losing 80% or more of their additional earnings when they get a better-paying job. i think republicans are working hard at that in trying to get the work incentives right. >> woodruff: to bore in for a sect on the earned income tax credit, what's the point at which you see the two sides coming together? >> there's two possibilities. you could do improvements expansion of the earned income credit as part of biparti
i think in the area of earned income tax credit, there might be some overlap. but in general the republican approach will be very different, i think. i think they'll look at the range of programs aimed at helping the poor and say a lot of these programs have been created without any relationship or understanding of how they interact with the others and create large disincentives to work when you stack them all together. lots of studies have shown when you pay someone a benefit and withdraw it...
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Mar 4, 2014
03/14
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ALJAZAM
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new tax break, the president is proposing an end to an old tax break to the wealthy. that move is projected to garner some $60 billion over ten years. the president is also proposing full-time workers with kids get a bigger tax credit to cover child care costs. he wants to make preschool available for all four year olds. and the tax credit for college tuition, he wants to make that permanent. and proposing funding to upgrade aging highway systems across the country. the plan is expected to help 13.5 million americans. erika pitzi, al jazeera. >>> comes up on al jazeera america, as tensions escalate between russia and ukraine. russia's actions could be undermining its own economy. >>> and when you think of mardi gras you think of one gig -- big party, but for police it is one big headache. ♪ >> al jazeera america is a straight-forward news channel. >> its the most exciting thing to happen to american journalism in decades. >> we believe in digging deep. >> its unbiased, fact-based, in-depth journalism. >> you give them the facts, dispense with the fluff and get strai
new tax break, the president is proposing an end to an old tax break to the wealthy. that move is projected to garner some $60 billion over ten years. the president is also proposing full-time workers with kids get a bigger tax credit to cover child care costs. he wants to make preschool available for all four year olds. and the tax credit for college tuition, he wants to make that permanent. and proposing funding to upgrade aging highway systems across the country. the plan is expected to help...
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Mar 6, 2014
03/14
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ALJAZAM
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the basic way the earned a tax credit worked is this an eligible worker will earn a tax credit for every dollar he or she makes. a formula determines how much a worker ultimately receives under the program's caps. that amount the worker receives is then applied to taxes. for example, if someone owed $700 in taxes and has a credit of $900 they would get a refund of $200. working families with children currently stand to benefit the most. they qualify for a credit if they earn under 38,000 to $51,000. generally a salary increase the credit lowers. a married couple with two children making $45,000 would be eligible for a credit of $706. low-wage workers without children currently benefit the least. a person with no children earning $12,000 would only be eligible for a credit of $177. president obama wants to change that. he's proposing to include more low income workers without children. he also wants to extend the age limits to include younger and older workers. cashiers, retail sales people along with waiters and waitresses are among the workers standing to be helped the most under the pr
the basic way the earned a tax credit worked is this an eligible worker will earn a tax credit for every dollar he or she makes. a formula determines how much a worker ultimately receives under the program's caps. that amount the worker receives is then applied to taxes. for example, if someone owed $700 in taxes and has a credit of $900 they would get a refund of $200. working families with children currently stand to benefit the most. they qualify for a credit if they earn under 38,000 to...
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Mar 1, 2014
03/14
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CSPAN2
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you want to collect taxes -- the world's -- tax evasion and tax avoidance are worldwide issues, they are high up on their agenda. this is an issue whether or not governments are going to have resources for the people. there is a fairness issue too. for people to be able to get away with tax evasion while other people are paying taxes is wrong and undermines confidence in the system and also you have to have accountability if you are going to have future compliance and people see year after year nothing happening. there has been letters, target letters that stemmed three years ago and nothing happened. if people start sensing that, a lot of folks out there are going to think the heat is off and i can get away with stockings my fund, not at credit suisse any more, they told us this morning that is not true but other banks, there are other banks in other places in switzerland, believe me that are more than happy to take the money from tax evaders and keep it hidden. this is injustice was problem. switzerland has a lot of major banks and a lot of money from outside switzerland comes into
you want to collect taxes -- the world's -- tax evasion and tax avoidance are worldwide issues, they are high up on their agenda. this is an issue whether or not governments are going to have resources for the people. there is a fairness issue too. for people to be able to get away with tax evasion while other people are paying taxes is wrong and undermines confidence in the system and also you have to have accountability if you are going to have future compliance and people see year after year...
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Feb 28, 2014
02/14
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FBC
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and pay no taxes for 10 years. with new jobs, new opportunities and a new tax fr plan. there's on one way for yo business to go. . lou: all day, fox business has been focused on the business of boomer retirement. a survey shows it is out of reach for far too many americans, 58% of workers, age 60 and older have to put off their retirement. mostly because of financial reasons, good news that down from a pike of 66 percent in 2020. new fed chair yellen testifying before senate banking committee told them central bank would probably continue to taper while trying to figure out how much research weakness in the economy is because of the see winter weather, market, responding %-posting a new record high,&p. joining us now. chief economist from moody's capital, john lonski, janet yellen seems to have slid into her well rarefied chair, is doing brilliantly it seems. >> i think she is doing very well. market likes her, up 1% for year-to-date, new record highs. so they are pleased with her performance thus far, it also helps that because of a slower economy, instead of rising as
and pay no taxes for 10 years. with new jobs, new opportunities and a new tax fr plan. there's on one way for yo business to go. . lou: all day, fox business has been focused on the business of boomer retirement. a survey shows it is out of reach for far too many americans, 58% of workers, age 60 and older have to put off their retirement. mostly because of financial reasons, good news that down from a pike of 66 percent in 2020. new fed chair yellen testifying before senate banking committee...
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Mar 4, 2014
03/14
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FOXNEWSW
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he's hanging it on tax hikes and taxing the rich. what do you think? >> he's happeninging on his idea of income inequality that he was dealing with in his state of the union address. another way to say income inequality is redistribution of wealth. that's essentially what the president is proposing in this budget, redistribution of wealth again from production in the united states to dependency. and so dependency grows under this budget. productivity unfortunately doesn't. >> all right. but i guess i'm looking at the same big old numbers you are and i don't get whether you are republican or democrat, you have to see it a nearly $4 trillion budget. there must be something that you can cut, but barbara boxer didn't find any such thing. this is from barbara boxer. why don't you listen. >> there's absolutely no way we're going to cut spending. we're not going to cut education, you know, and we're not going to repeal the affordable care act. let that be known. it's not happening. >> it's not happening. what do you think of that? >> which, again, makes my ca
he's hanging it on tax hikes and taxing the rich. what do you think? >> he's happeninging on his idea of income inequality that he was dealing with in his state of the union address. another way to say income inequality is redistribution of wealth. that's essentially what the president is proposing in this budget, redistribution of wealth again from production in the united states to dependency. and so dependency grows under this budget. productivity unfortunately doesn't. >> all...
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Mar 2, 2014
03/14
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CSPAN2
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taxes, high taxes rob you of freedom. if you -- if 50%, if 50% of your income goes to taxes, that's 50 percent less of your incomement money that you could use to do landscaping, to pay off a student loan, to pay down a mortgage, to buy a new dishwasher, to buy a second car, to hire a plumber, to -- and any number of different things. to give to charity, money that you can use to give to charity. the more that the government takes away many your taxes especially as you have an ever-growing government that needs more and more of your tax money to feed the beith, right? -- the feed the beast, right, the more you lose of your personal freedom. freedom in america can be the freedom to educate your children in the school where you would like to send them, to a private school, to home school. reagan talked about freedom of religion, religious tolerance. we have a first amendment freedom can, speech, press, assembly, religion. the freedom to emigrate. think about that. when reagan was president, everybody behind the iron curtain
taxes, high taxes rob you of freedom. if you -- if 50%, if 50% of your income goes to taxes, that's 50 percent less of your incomement money that you could use to do landscaping, to pay off a student loan, to pay down a mortgage, to buy a new dishwasher, to buy a second car, to hire a plumber, to -- and any number of different things. to give to charity, money that you can use to give to charity. the more that the government takes away many your taxes especially as you have an ever-growing...
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Mar 1, 2014
03/14
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tax code is 70,000 pages long. in 1986, it was 26,000 pages long. if that doesn't signal something is wrong, i don't think we have any evidence. on top of that, the irs erroneously sent $132 billion of taxpayer money to false, fraudulent claimants over the last ten years. and on top of that, a tax code should encourage innovation and investment. this one does not. >> that last point is where i pick up. i think that the focus here on this reform is simplification, but also growth. we need a tax code that doesn't retard the economy but enhances it. puts fewer obstacles in front of individuals and businesses to invest. i think this goes a big step in that direction. not perfect, but makes a big step in that direction. >> yeah, well, that's for sure. i've taken a look at some of the provisions. let me say it's not going to put tax accountants out of business. >> that is a dream. >> it's simpler but not simple. it reduces the corporate rate to 25%. we now have the highest in the industrialized world. >> which is 35%, closer to 40% if you include state ra
tax code is 70,000 pages long. in 1986, it was 26,000 pages long. if that doesn't signal something is wrong, i don't think we have any evidence. on top of that, the irs erroneously sent $132 billion of taxpayer money to false, fraudulent claimants over the last ten years. and on top of that, a tax code should encourage innovation and investment. this one does not. >> that last point is where i pick up. i think that the focus here on this reform is simplification, but also growth. we need...
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Feb 26, 2014
02/14
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it is double taxed or triple tax currently. so those rates on shareholders should be reduced from where they currently are. >> maybe if you raise income taxes -- notes, reading for your one of the interesting things i thought was you say that this proposal is "good and achievable." i thought that was interesting. it's not great though, right? you mentioned the things that make it achievable. it is revenue neutral. maybe some people think that is a plus. it contains progressive and he. that is something you could argue across party lines. what makes this a great traffic -- what makes this a great tax-cut proposal and why don't we see that? >> there was the revenue too.ality box in 1996, reform will have political constraints. a lot of us think that good tax reform will raise economic growth and you would see revenue flow from that. the so-called dynamic scoring and just a much you count that. under conventional models, you go with the static scoring. you look at the boxes they are in right now, it makes it harder. lowering rates
it is double taxed or triple tax currently. so those rates on shareholders should be reduced from where they currently are. >> maybe if you raise income taxes -- notes, reading for your one of the interesting things i thought was you say that this proposal is "good and achievable." i thought that was interesting. it's not great though, right? you mentioned the things that make it achievable. it is revenue neutral. maybe some people think that is a plus. it contains progressive...
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Feb 26, 2014
02/14
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part of the tax code, section 527. the problem for some organizations is that if they do this, they'll have to disclose who their donors are as opposed to being registered under 501-c-4 where you don't have to disclose who funds you. so even though threes groups could be registered under 527 they don't want to do so because they would have to disclose their donors. am i correct in that? >> that is correct. on a not putting you spot where you have to try to figure out what happened in the past -- was that part of the problem people doing this and there was some scrutiny and that scrutiny went overboard? >> i have not spent a lot of time going backwards because there is six investigations going on. there was something in 2010, public discussion and debate and political activities, so the volume went up to some extent. it became more visible. back to the question, for a long time nobody paid attention because most of these organizations weren't particularly visible as you go forward. but i do think, again, if the process
part of the tax code, section 527. the problem for some organizations is that if they do this, they'll have to disclose who their donors are as opposed to being registered under 501-c-4 where you don't have to disclose who funds you. so even though threes groups could be registered under 527 they don't want to do so because they would have to disclose their donors. am i correct in that? >> that is correct. on a not putting you spot where you have to try to figure out what happened in the...
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Feb 27, 2014
02/14
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part of the tax code. the problem for some organizations is that if they do this they will have to disclose who the donors are as opposed to being registered under 501 c4, where you don't have to disclose who funds you, even though these groups could be registered, they don't want to do so because they would have to disclose their donors. am i correct in that? >> that's correct. >> not putting you in a spot where you have to try to figure out what happened in the past. was that part of the problem that people were doing this and therefore there had to be some scrutiny, and maybe the scrutiny went overboard? >> i have not spent a lot of time working backwards because we have six investigations going on. there was an increase after 2010 ine organizations put money public discussion debate, so the volume went up and became more visible. for a long time no one paid much attention because most of these organizations were not going forward. if the process is clear, people who meet the process ought to be able to
part of the tax code. the problem for some organizations is that if they do this they will have to disclose who the donors are as opposed to being registered under 501 c4, where you don't have to disclose who funds you, even though these groups could be registered, they don't want to do so because they would have to disclose their donors. am i correct in that? >> that's correct. >> not putting you in a spot where you have to try to figure out what happened in the past. was that part...
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Feb 27, 2014
02/14
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they have a tax exempt status. he is defending his plan amongst criticism from republicans and democrats that aspects of this go too far. to simplifye have and get lower rates, we can grow the economy by 20%. if we get 20% growth, that will translate to almost 2 million jobs. economy is the number one issue facing americans. americans want to do something about it. this proposal is one way to do something about it. >> the argument from critics is that it may be true controversial for those who would otherwise support it. he will pushs that forward on it and start the conversation. >> is dave camp running for reelection? >> he is running for reelection. who hashis is someone been a serious lawmaker for a long time. people were waiting for this proposal. she will wait what happens in to see what happened then he will stand by it. i thank you, peter cook, from washington, d.c.. coming up, teslas d go factory giga factory to build batteries. will this insight tax incentives? ♪ >> tesla motors has identified four stat
they have a tax exempt status. he is defending his plan amongst criticism from republicans and democrats that aspects of this go too far. to simplifye have and get lower rates, we can grow the economy by 20%. if we get 20% growth, that will translate to almost 2 million jobs. economy is the number one issue facing americans. americans want to do something about it. this proposal is one way to do something about it. >> the argument from critics is that it may be true controversial for...
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Feb 27, 2014
02/14
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tax code and collapses seven tax brackets into two. it also says that the joint committee on taxation estimates the plan would create up to 1.8 million new jobs, boost growth domestic product and increase the income of an average family. among other provisions, he said it was sure the depleted highway 126 .5 billion of dedicated funds. tax long-term capital gains and dividends as ordinary income. democrats have often decried that particular exemption as a giveaway to the rich. in the editorial pages this dave camp's plan would yield $700 billion in extra dynamic resident -- revenue. weaknesses in the plans are due to trying to offer something that might attract a democratic president and senate. republicans are skeptical, believing they can coast to gains in november by attacking obamacare. on mr.nt to avoid voting camp's plan in the house. they need a positive agenda, especially for lifting growth and incomes. the gop has made clear it is for cutting deficits and now it needs to restore his reputation as the growth party. mr. camp's p
tax code and collapses seven tax brackets into two. it also says that the joint committee on taxation estimates the plan would create up to 1.8 million new jobs, boost growth domestic product and increase the income of an average family. among other provisions, he said it was sure the depleted highway 126 .5 billion of dedicated funds. tax long-term capital gains and dividends as ordinary income. democrats have often decried that particular exemption as a giveaway to the rich. in the editorial...
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Mar 4, 2014
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tax laws? >> i don't think it does senator. and couple of things that need to be kept in mind about this program. it's only applying to banks that we really didn't have any information about. these banks were not on our radar screen. the vast majority of them have no presence here in the united states at the united states and also there are not any tools that we could really use. the 14 banks are covered. individuals are covered. we are going to get number one a lot of information from these banks that help us ross acute their employees and their officers. secondly we are going to get a lot penalties and a lot of money which is what this is all about. third we are going to get information that will help us to treaty request in a better way because there is the proverbial law that this was keep putting up and all this is in fact going to lead us to a lot of different beneficiabeneficia l avenues. the final one is they are contacting their bank account holders or u.s. citizen and telling them that they are going to be providing t
tax laws? >> i don't think it does senator. and couple of things that need to be kept in mind about this program. it's only applying to banks that we really didn't have any information about. these banks were not on our radar screen. the vast majority of them have no presence here in the united states at the united states and also there are not any tools that we could really use. the 14 banks are covered. individuals are covered. we are going to get number one a lot of information from...
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part of the tax code. the problem for some organizations is that if they do this they will have to disclose who the donors are as opposed to being registered under 501 c4, where you don't have to disclose who funds you, even though these groups could be registered, they don't want to do so because they would have to disclose their donors. am i correct in that? >> that's correct. >> not putting you in a spot where you have to try to figure out what happened in the past. was that part of the problem that people were doing this and therefore there had to be some scrutiny, and maybe the scrutiny went overboard? >> i have not spent a lot of time working backwards because we have six investigations going on. there was an increase after 2010 were organizations put money in public discussion debate, so the volume went up and became more visible. for a long time no one paid much attention because most of these organizations were not particularly going forward. if the process is clear, people who meet the process ou
part of the tax code. the problem for some organizations is that if they do this they will have to disclose who the donors are as opposed to being registered under 501 c4, where you don't have to disclose who funds you, even though these groups could be registered, they don't want to do so because they would have to disclose their donors. am i correct in that? >> that's correct. >> not putting you in a spot where you have to try to figure out what happened in the past. was that part...
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or some refundable tax credits. today it is 10 million. that's one of the major progressive achievements in which the president has furthered, both in his 2009 budget and then extending those refundable tax credits in 2010 and 2012, up for the next five years and he calls for them to be permanent in his budget. at this would do is it would double the earned income tax credit for childless adults. it would increase the amount. it would keep the phase in longer so people up to $18,000 this. e eligible for in terms of impact, 13.5 million americans would benefit from this. 5.8 million new americans and 7.7 million would get a deeper earned income tax credit. let me give you one specific example. if you are right at the poverty line for an individual, right at the poverty line, that's $11,760. under the current earned income tax credit you would get a $239 eitc. under the president's proposal, you would get $974. it would be four times larger for an individual right at the poverty level. this is something, this is a con
or some refundable tax credits. today it is 10 million. that's one of the major progressive achievements in which the president has furthered, both in his 2009 budget and then extending those refundable tax credits in 2010 and 2012, up for the next five years and he calls for them to be permanent in his budget. at this would do is it would double the earned income tax credit for childless adults. it would increase the amount. it would keep the phase in longer so people up to $18,000 this. e...
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and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com predibut, manufacturings a prettin the united states do. means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the right tools and resources to get the job done. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. gerri: you can pay the loan back on 30-year mortgage on your term, not the banks. how do you do that next? gerri: 30-year mortgage is probably the biggest expense most people will ev
and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com predibut, manufacturings a prettin the united states do. means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the...
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Mar 2, 2014
03/14
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WJLA
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then again, i think there ar some tax breaks and a good to the from clean energy earned income tax credit that encourages lower income americans to work. >> what w really interesting was that we saw big banks and wall street come out against ththis tax bil tax bill that everyonenows is going nowher they wanto make it clear that they are defending their turf and nonliving a t toretical ground on this, making sure republicans know that they need to heed what wall street wants oror else there will be cut off from donations. >> end of this session on tax reform. was a nice effort. and one still worth h discussin. when we come bacack, our next gut saysys the u.s. is made serious mistakes post-9/11 and it is impacting the economy. stay tuned for her prescription on what needs to happen. welcome back k to our next andt isuthor xime ortiz editorial writer for the "washingto tim." she has writitten a ovococative book called "shock and awing of america." welcome to "washington business report." i think this book is really an interesting read on so many levels. would yoargue is we took the wrong les
then again, i think there ar some tax breaks and a good to the from clean energy earned income tax credit that encourages lower income americans to work. >> what w really interesting was that we saw big banks and wall street come out against ththis tax bil tax bill that everyonenows is going nowher they wanto make it clear that they are defending their turf and nonliving a t toretical ground on this, making sure republicans know that they need to heed what wall street wants oror else...
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Mar 4, 2014
03/14
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child and dependent care tax credit to help families afford child care, and better tax benefits to help pay for college. the bottom line, the president's plan would give about 13.5 million americans a tax break. ranking member of the house budget committee chris van hollen joins me. >> good to be with you, chris, thanks. >> setting up a pretty epic battle. there's this 204-page report the house republicans have put out that i know you've seen, and it basically says we can't afford the way the president is laying it out. congressman paul ryan, i'm quoting hill here, "for too long we have measured compassion by how much we spend instead of how many people get out of poverty." does this budget throw more money at a problem? >> chris, what the president's proposing, you just laid out, as well as the child tax credit, are provisions that have had bipartisan support in the past. what the president is doing here is extending that tax cut to child less workers, right now it applies to a lower income workers with kids and so we hope actually that this will be an area where republicans can come t
child and dependent care tax credit to help families afford child care, and better tax benefits to help pay for college. the bottom line, the president's plan would give about 13.5 million americans a tax break. ranking member of the house budget committee chris van hollen joins me. >> good to be with you, chris, thanks. >> setting up a pretty epic battle. there's this 204-page report the house republicans have put out that i know you've seen, and it basically says we can't afford...
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Feb 28, 2014
02/14
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inmy judgment, the tax work enterprise in savings does not do the tax consumption. basically where a lot of states are going. that is basically where we and the rivlin panel suggested to get the debt out of way -- i should dramatic -- i should say dramatically reduce the deficit, to get to a sales tax like to have in the state of washington or even to a vat tax and focus on consumption but then get rid of corporate and individual income tax. ofyou representing the haves society. not like andrew mellon but a huge -- how do you bring the trust back in the relationship between the major banks and the people watching the television program? how do you bring the trust back? >> the important thing is have the leadership of those institutions -- and i believe they are people of integrity, and vision -- and let them talk about ordinary people about saving and investment and retirement. think about this -- the problem we are facing in the united states is a good problem and a bad problem. the good problem is we live far longer than our parents and the bad thing is we live fa
inmy judgment, the tax work enterprise in savings does not do the tax consumption. basically where a lot of states are going. that is basically where we and the rivlin panel suggested to get the debt out of way -- i should dramatic -- i should say dramatically reduce the deficit, to get to a sales tax like to have in the state of washington or even to a vat tax and focus on consumption but then get rid of corporate and individual income tax. ofyou representing the haves society. not like andrew...
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Feb 26, 2014
02/14
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FBC
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and y no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com sometimes they just drop in. always obvious. cme groun help you navigatrisks. we enable you to reach global markets d drive forward with broader possibilities. cme oup: how the world advances. david: time for a quick speed read. some of the day's other headlines, five stories in justment first up sac capital advisors is streamlining its business units. it will hire chief surveillance officer as it transforms into a family office. the firm will combine its three u.s. stock divisions and macro business into two entities which will start operating in april. >>> delta air lines is changing its frequent flyer program. the airline will now reward those whose buy delta's priciest tickets instead of customers who travel the most miles. >>> best buy is laying off 2,003 midlevel managers across the country according to "the new york post." the cuts are part of the electronic chain's major c
and y no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com sometimes they just drop in. always obvious. cme groun help you navigatrisks. we enable you to reach global markets d drive forward with broader possibilities. cme oup: how the world advances. david: time for a quick speed read. some of the day's other headlines, five stories in justment first up sac...
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Mar 5, 2014
03/14
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be subject to estate tax but they will not be subject to income tax. you can think about stretching out the payments of that ira after you are gone for the benefit of your children or even grandchildren. that gives a lot more economic value. >> the account lives on almost in the form of an ira at the beneficiary of that account, and you have noted, the beneficiary would receive the income and not be subject to the same kind of lump-sum tax. >> you stretch it out over time. >> many of the driving forces is the tax law. you also mentioned as part of the exercise, you have to get organized and get your paperwork in order so that it is not a scramble at the last minute. >> getting organized is critical. that you understand what your goals are and that requires a good deal of thinking. you work with a lawyer specializing in this area. you become very organized about where your assets are, documenting where they are. you put documents in place. wills, trusts, and powers of attorney. they are very important. living wills so that if you're not able to do what
be subject to estate tax but they will not be subject to income tax. you can think about stretching out the payments of that ira after you are gone for the benefit of your children or even grandchildren. that gives a lot more economic value. >> the account lives on almost in the form of an ira at the beneficiary of that account, and you have noted, the beneficiary would receive the income and not be subject to the same kind of lump-sum tax. >> you stretch it out over time. >>...
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Feb 26, 2014
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clients she on her taxes. it is important if you are really going to the a reform bank that you have got to acknowledge what is clear in our report, the wrongdoing went beyond these mulgrew of rogue bankers. iswhat you see right there the senator nailing the biggest difference. claims that this was just a small number of bankers who were involved. in a report released by the committee, it is a very large number of bankers, as many as 1800, may have been involved. that was not results yet. hear frommittee will top justice department officials in 30 minutes. where does credit suisse stand? >> the investigation is ongoing. the justice department is looking into 14 banks related to tax evasion issues. we know credit suisse is one of those banks. for luminary negotiations and discussions between credit suisse and the justice department have occurred on some kind of settlement. here are the major issues that exist right now. this is what everyone is talking about. the big problem is the government. between the swiss
clients she on her taxes. it is important if you are really going to the a reform bank that you have got to acknowledge what is clear in our report, the wrongdoing went beyond these mulgrew of rogue bankers. iswhat you see right there the senator nailing the biggest difference. claims that this was just a small number of bankers who were involved. in a report released by the committee, it is a very large number of bankers, as many as 1800, may have been involved. that was not results yet. hear...
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Feb 27, 2014
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last i checked everyone else's taxes are taxed at a normal income tax rate. joining us is michael. can you just explain the significance of this loophole? we're talking real money, right? >> we're talking real money, erin. we're talking about a lot of money. i mean, this would basically double the tax that venture capitalists and private equity investors have to pay every year. you've been right on this all along. it's inconsistent with current tax policy. so, yeah, i mean, these guys have gotten a big break. i don't blame them. i wish i could have figured out how to get that break. it's terrific. but now the republicans are saying we should change that law, and look at this, we've got republicans saying, we're going to raise taxes on the rich in this area and lower the overall rate, which makes much more economic sense. >> what i'm curious about though is why it has taken so long. the president keeps putting it in his budget but he's always willing to negotiate this out. this is a loophole. there's not very many people who benefit from it. they are incredibly wealthy. a, it would
last i checked everyone else's taxes are taxed at a normal income tax rate. joining us is michael. can you just explain the significance of this loophole? we're talking real money, right? >> we're talking real money, erin. we're talking about a lot of money. i mean, this would basically double the tax that venture capitalists and private equity investors have to pay every year. you've been right on this all along. it's inconsistent with current tax policy. so, yeah, i mean, these guys...
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number one, it would vilify tax rates which ash simplify tax rates for children for education. it would get rid of special interest handouts. it would also eliminate the carried interest tax benefit, which is been a lightning rod in d.c. greg, you, i know, as a former ceo, have quite a lot of opinions about the tax rate and how it is affecting corporate america. what do you think would be the biggest change in the tax code that would help create jobs? >> wow. job creation is, to me, something that has to come from a lack of regulation. the issue that we have had for years now is over-regulation. when you see topics like minimum wage, use it the obama white house working on this, that i want to regulate this, i want to force this, those are not helpful. the government does not have a lot of things that it runs that run well. almost nothing you can point to the -- you wouldn't say "let's privatize that," and it would work good from the job creation standpoint, the less relations and hurdles you have, particularly on small business -- >> but on taxes, what would it be? what reform
number one, it would vilify tax rates which ash simplify tax rates for children for education. it would get rid of special interest handouts. it would also eliminate the carried interest tax benefit, which is been a lightning rod in d.c. greg, you, i know, as a former ceo, have quite a lot of opinions about the tax rate and how it is affecting corporate america. what do you think would be the biggest change in the tax code that would help create jobs? >> wow. job creation is, to me,...
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and pay no taxes for 10 years. with new js, new opportunities and a new tax free plan. there's only one way for your busess to go. up. find out if your business can qualify at start-upny.com john: ladies and gentleman this woman who died 100 years ago has come back to life. of the temperance union helped to bring alcohol prohibition she would call drinker's names and march in the bar with h hatchet. people would fear her. x-foot tall and 180 poun even the men ran from her. now her obituary says she died years ago but i say she lives on in the body of bill reilly. [laughter] i say this because you say things like this. >> is america going to pot? it is hard to make a living. you will be a terrible citizen. john: pot. texting. video games. thee'd make for terrible citizens? >> number one if you do it beyond recreation. i don't like pot but i don't care what kind of games or tweet this but if it takes a pro-life thatis what it takes up theimind with these urchins and it will hurt you. john: you were the curmudgeon crusade. john: epidemic that leads to a weaker america? >>
and pay no taxes for 10 years. with new js, new opportunities and a new tax free plan. there's only one way for your busess to go. up. find out if your business can qualify at start-upny.com john: ladies and gentleman this woman who died 100 years ago has come back to life. of the temperance union helped to bring alcohol prohibition she would call drinker's names and march in the bar with h hatchet. people would fear her. x-foot tall and 180 poun even the men ran from her. now her obituary says...
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and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. lou: sam sung as a company with patients. they reportedly spent $20 million to advertise on sunday's academy awards and the host ellen degeneres took the selfie seen around the world. she took it with a samsung galaxy s-5. at the academy and dams on, she sent it via iphone. in another celebrity that was recently caught using his iphone at the super bowl. shrugging off the ukraine crisis and volatility film nicholas. >> it's nice to be here. then one day later they normalized it a little bit. i think that we are doing the best w
and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising...
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Mar 4, 2014
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i think corporate tax reform, child tax credit -- these are areas of discussion. i think most people on capitol hill believe expectations are low. this is an election year. a budgetl ryan having in the house. if he does not get democrats to support the budget plan, how likely is it republicans can move it on their own party boat? how much dissent will he run into? very: i think that is a tough question for chairman brian right now. when you look at the budget deal passed in december and brought up in the house, 62 republicans defect it on the budget deal. they did not like the compromises or how it was formed. one of the most popular republicans in the house. i would venture to say he has can eventical capital john boehner. he really carries weight with in the house. for someone with that kind of stature in the house on the key budget deal, 62 republican defections shows you how difficult it will be to pass his own budget. we did see this beaker talk about this project. balanced budget, does not have too much in terms of a budget deal or a deal towards compromise,
i think corporate tax reform, child tax credit -- these are areas of discussion. i think most people on capitol hill believe expectations are low. this is an election year. a budgetl ryan having in the house. if he does not get democrats to support the budget plan, how likely is it republicans can move it on their own party boat? how much dissent will he run into? very: i think that is a tough question for chairman brian right now. when you look at the budget deal passed in december and brought...
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Feb 26, 2014
02/14
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CNBC
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tax laws. the senate hearing kicks off late today, shares trading at the bottom, just down just over 3% in trading today. >>> the firm came out to say it considers its insurance policies for wealthy u.s. citizens to be tax compliant. credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. the long arm of the u.s. treasury, by the way good morning, everybody. you didn't say good morning. >> good morning, sorry, good morning. >> good evening if you're watching in sipping apore as well. good e-mails coming out of credit suisse or conversations out of the investigation? >> it's a little bit embarrassing. we were waiting for the juicy details. interesting, there is going to be a comparison with ubs, they settled several years ago $780 million they settled for and credit suisse settled with the sec and did say to us the latest earnings they're just waiting now for the department of justice in the u.s. to state their claim and how much they expect the
tax laws. the senate hearing kicks off late today, shares trading at the bottom, just down just over 3% in trading today. >>> the firm came out to say it considers its insurance policies for wealthy u.s. citizens to be tax compliant. credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. the long arm of the u.s. treasury, by the way good morning, everybody. you didn't say good morning. >> good morning, sorry, good morning....
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Mar 5, 2014
03/14
by
CNNW
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now maybe how about back taxes? still to come, a look inside the courtroom during the blade runner trial. what made oscar pistorius's neighbor break out in tears on the stand? and jeanne moos has a very strange but compelling new workout later in the show. [ sneezes ] [ coughs ] i've got a big date, but my sinuses are acting up. it's time for advil cold and sinus. [ male announcer ] truth is that won't relieve all your symptoms. hmm? [ male announcer ] new alka seltzer plus-d relieves more symptoms than any other behind the counter liquid gel. thanks for the tip. [ male announcer ] no problem. oh...and hair products. aisle 9. [ inhales deeply ] oh what a relief it is. ♪ so i got the new nokia lumia icon. it's got 1080p video, three times zoom, and a twenty-megapixel sensor. it's got the brightest display, so i can see what i'm shooting -- even outdoors, and 4 mics that capture incredible sound. plus, it has apps like vine -- and free cloud storage. my new lumia icon is so great, even our wipeouts look amazing. ♪
now maybe how about back taxes? still to come, a look inside the courtroom during the blade runner trial. what made oscar pistorius's neighbor break out in tears on the stand? and jeanne moos has a very strange but compelling new workout later in the show. [ sneezes ] [ coughs ] i've got a big date, but my sinuses are acting up. it's time for advil cold and sinus. [ male announcer ] truth is that won't relieve all your symptoms. hmm? [ male announcer ] new alka seltzer plus-d relieves more...
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Feb 26, 2014
02/14
by
BLOOMBERG
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tax reform that will not only simplify the tax code. this is to simply pay our bills. >> let's talk about bills that specifically the kind that get printed. isust -- and the new chair scheduled to testify tomorrow. her is we will hear from a projection of the continues to recover. we have the fact that moved from washington being net negative on the economic recovery, maybe the neutral. can be a positive aspect. a number of members will press on when we will see some additional relaxation and quantitative easing. >> is that what you're going to ask? are those the questions you'll ask? >> by the time they get down to me, i'm sure that they will be asked. one of the areas that i want to highlight is one of the coming fiscal crisis that we have to get ahead of her. we have now had a true billion dollars in student debt that exceeds credit card debt. we are starting to see the price diminish state and the federal support. with the rising college costs, we bought that off with debt. that is coming to an end. i would like to get some more com
tax reform that will not only simplify the tax code. this is to simply pay our bills. >> let's talk about bills that specifically the kind that get printed. isust -- and the new chair scheduled to testify tomorrow. her is we will hear from a projection of the continues to recover. we have the fact that moved from washington being net negative on the economic recovery, maybe the neutral. can be a positive aspect. a number of members will press on when we will see some additional relaxation...
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Feb 26, 2014
02/14
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FOXNEWSW
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>> and some people call it a tax. no, no. it is not a nice word. you don't like tax. it is shared responsibility payment. it is your responsibility and mine and theires is going to help you share your dollars with the rest of the country. so now the irs is helping you a long. >> srp. shared responsibility payment. that is what it is. >> melissa, how do they it collect it? >> with more agents. if you are getting a return from the irs they will deduct it. right out of the gate the treasury department said they will need 2,000 more agents. and what is going to be trucky is the folks who don't foil a tax return. >> seniors don't have to and young people. that group of young people who don't have a income and trying to decide if they want to get insurance or pay a penamenty. and that is through the tax return and earning an income. it just means many, many more irs agents in our future. >> the only way they can exize the tax or penalty are getting it on the taxes and they with hold the money. at the same time the irs holds the liability. i haven't owed the irs. and that is
>> and some people call it a tax. no, no. it is not a nice word. you don't like tax. it is shared responsibility payment. it is your responsibility and mine and theires is going to help you share your dollars with the rest of the country. so now the irs is helping you a long. >> srp. shared responsibility payment. that is what it is. >> melissa, how do they it collect it? >> with more agents. if you are getting a return from the irs they will deduct it. right out of the...
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Feb 26, 2014
02/14
by
FBC
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and pay no taxes for 10 years. with new jobs, w opportunities and a new tax free plan. ere's only one way for your business to go. up. find out if your business can qualify at start-upny.com gerri: the real reason behind the pimco ceo's resignation and what it means for your money, all coming up next in 603 seconds. gerri: now we wanted to bring you the latest developments on the story we broke here last night. things got heated today on capitol hill as senators lashed out at federal prosecutors for failing to go after swiss banks that helped americans dodge taxes. of the senate subcommittee. >> taxes owed on billions of dollars in hidden offshore assets remain uncollected. to collect the those unpaid taxes and hold u.s. tax evaders accountable, the critical first step is to get their names. gerri: the senate subcommittee took specific aim at credit suisse, saying secret meetings taking place in luxury hotels and he straighttores bee long in -- elevators belong in a spy novel. one even returned home with bank state
and pay no taxes for 10 years. with new jobs, w opportunities and a new tax free plan. ere's only one way for your business to go. up. find out if your business can qualify at start-upny.com gerri: the real reason behind the pimco ceo's resignation and what it means for your money, all coming up next in 603 seconds. gerri: now we wanted to bring you the latest developments on the story we broke here last night. things got heated today on capitol hill as senators lashed out at federal...